Fed and State Taxes for new LLC with zero income.

[MSAL678]

I formed my CT based online Professional Consulting Services Company (LLC) in June 2024. I have signed up with DRS for Sales Tax with a start date of September 01, 2024. I have not yet formally launched my company and have zero dollars in sales. Do I need to file any quarterly taxes (with zero sales)? How about my state of CT?

[TeriH]

Congrats on the new business!

The IRS, and states are a pay as you go system.  So, if you haven't made any money, to date, there is no tax obligation due.  Once you do start earning money, then you'll need to estimate your income and expenses.  Use the tax calculator to estimate your obligation and remit quarterly taxes.

Here are some great resources to get you started:
A Guide to Paying Quarterly Taxes 
Self-employed Expense Monitor 

TaxCaster 

If your income varied during the year because, for example in your situation you started earning income late in the year, you may be able to lower or eliminate the amount of one or more required installments by using the annualized income installment method. You will be able to use IRS Form 2210, Schedule AI to figure the required installments to enter on Form 2210, Part III, line 10.